Heathrow Airport has called on the UK government to invest some of the nearly £4 billion annual revenue raised from Air Passenger Duty to scale-up production of sustainable fuels.
The UK hub has also urged the UN’s aviation body ICAO to set targets for the use of biofuels in aviation as recommended by the Energy Transition Commission as it pledged its support to the goal of net zero carbon by 2050.
Heathrow made the calls in a release for its half-year results to 30 June, in which it announced adjusted profits before tax jumped 61.1 per cent to £153 million, while turnover grew four per cent to £1.46 billion and EBITDA increased 1.5 per cent to £900 million.
The airport also said there is a “strong appetite” to invest in Heathrow as it looks to build a third runway and it has raised £1.4 billion so far this year as it builds a war chest to deliver the £14 billion privately funded north west runway.
In the first six months of the year passenger growth reached a record high of 38.8 million passengers, a 1.8 per cent increase on the same period last year.
Heathrow chief executive officer, John Holland-Kaye said: “2019 is shaping up to be a strong year for Heathrow – our colleagues are delivering an excellent service to passengers, we’re investing millions to improve the airport and secure new skilled jobs for the future and we’ve set out our plans to expand Britain’s hub airport sustainably and affordably.
“We support the goal of net zero carbon emissions by 2050 and are working to ensure that global aviation plays its part.”